Wisconsin Administrative Code

Ins 51.65 Foreign insurers. (1) Any foreign insurer shall, upon the written request of the commissioner, submit to the commissioner a risk based capital report as of the end of the calendar year just ended by the later of the following: (a) The date a risk based capital report wo…

Ins 51.75 Applicability.

Ins 51.80 Capital, compulsory and security surplus. the chapter was last published. Ins 51.01 WISCONSIN ADMINISTRATIVE CODE fectiveness of the office[s solvency monitoring and the commissioner requires the person to comply as an insurer under this subchapter. (10) XLife or health…

Ins 52.005 Purpose and intent. Ins 52.01 Definitions. Ins 52.02 Credit allowed a licensed ceding insurer.

Ins 52.01 Definitions. In this subchapter, unless the context otherwise requires: (1g) XCovered agreementY means an agreement entered into pursuant to Dodd-Frank Wall Street Reform and Consumer Protection Act, 31 USC 313 and 314, that is currently in effect or in a period of prov…

Ins 52.02 Credit allowed a licensed ceding insurer. Except as provided by s. Ins 52.04 and unless otherwise prohibited by the commissioner with any such prohibition not to be in contravention of an applicable covered agreement, a domestic insurer may take credit for ceded reinsur…

Ins 52.025 Revocation of accreditation or certification. Ins 52.03 Insolvency clause and jurisdiction; financial reinsurance disallowed. Ins 52.04 Reduction from liability for reinsurance ceded by a licensed insurer to an assuming insurer. Ins 52.05 Trust agreements qualifying fo…

Ins 52.03 Insolvency clause and jurisdiction; financial reinsurance disallowed. (1) Except as permitted by s. Ins 52.02 (5), a ceding domestic insurer may take credit for reinsurance ceded to a reinsurer which does not comply with s. Ins 52.02 (1), (2), (3), (4), and (4m) only if…

Ins 52.04 Reduction from liability for reinsurance ceded by a licensed insurer to an assuming insurer. Unless otherwise ordered by the commissioner, an insurer may take credit for a reduction in liability for reinsurance ceded to a reinsurer even if the credit is not permitted un…

Ins 52.05 Trust agreements qualifying for security. (1) In this section: (a) XBeneficiaryY means the person for whose sole benefit the trust has been established and any successor of the beneficiary by operation of law, including, but not limited to, any liquidator, rehabilitator…

Ins 52.06 Letters of credit. (1) In this section XbeneficiaryY means the insurer for whose benefit the letter of credit has been established and any successor of the beneficiary by operation of law, including, but not limited to, a court-appointed domiciliary receiver, including,…

Ins 52.065 Concentration Risk. Subchapter I — Requirements for Credit for Reinsurance Ins 52.005 Purpose and intent. The purpose of this subchapter is to protect the interest of insureds, claimants, ceding insurers, assuming insurers, and the public generally. The intent is to en…

Ins 52.07 Applicability. (1) This subchapter applies to determine whether credit may be taken for: (a) Any reinsurance ceded under agreements entered into on or after August 1, 1993; or (b) Any reinsurance ceded if the reinsurance agreement is renewed by agreement on or after Aug…

Ins 52.20 Purpose, intent, and applicability. In addition to provisions contained at s. Ins 2.80, the following apply to this subchapter: (1) PURPOSE AND INTENT. The purpose and intent of this subchapter is to establish uniform, national standards governing reserve financing arra…

Ins 52.21 Exemptions. This subchapter does not apply to the situations described below: (1) Reinsurance of: Ins 52.21 (a) Policies that satisfy the criteria for exemption set forth in s. Ins 2.80 (5) (k) or (L) that were issued prior to June 1, 2022. (b) Portions of policies that…

Ins 52.22 Definitions. In this subchapter, unless the context otherwise requires: (1) XActuarial methodY means the methodology used to determine the required level of primary security. (2) XCovered policiesY means the following: subject to the exemptions described in s. Ins 52.21…

Ins 52.23 Actuarial method. (1) ACTUARIAL METHOD. The actuarial method to establish the required level of primary security for each reinsurance treaty subject to this regulation shall be VM-20, applied on a treaty-by-treaty basis, including all relevant definitions, from the valu…

Ins 52.24 Requirements applicable to covered policies to obtain credit for reinsurance: opportunity for remediation. (1) REQUIREMENTS. Subject to the exemptions in s. Ins 52.21 and sub. (2), credit for reinsurance shall be allowed with respect to ceded liabilities pertaining to c…

Ins 52.25 Severability. If a provision of this regulation is held invalid, the remainder shall not be affected.

Ins 52.26 Prohibition against avoidance. No insurer that has covered policies as to which this subchapter applies, as set forth in s. Ins 52.20 (2), shall take any action or series of actions or enter into any transaction or arrangement or series of transactions or arrangements i…

Ins 53.01 Purpose. The purpose of these regulations is to set forth the procedures for filing, and the required contents of, the corporate governance annual disclosure, deemed necessary by the commissioner to carry out the provisions of s. 610.80, Stats.

Ins 53.02 Definitions. In addition to definitions contained in s. 610.80 (1), Stats., the following definitions shall apply in this chapter: (1) XCommissionerY means the Wisconsin insurance commissioner. (2) XInsurance groupY means those insurers and affiliates included within an…

Ins 53.03 Filing procedures. Each year following the initial filing of the corporate governance annual disclosure, the insurer or insurance group shall file an amended version of the previously filed disclosure indicating where changes have been made. If no changes were made in t…

Ins 53.04 Contents of the corporate governance annual disclosure. (1) The insurer or insurance group shall be as descriptive as possible in completing the corporate governance annual disclosure, with inclusion of attachments or example documents that are used in the governance pr…

Ins 55.01 Scope. (1) This chapter applies only to: (a) Domestic life and accident and health insurers; (b) Licensed life and accident and health insurers which are not subject to a substantially similar rule or law in their state of domicile; and (c) Licensed property and casualt…

Ins 55.02 Accounting requirements. (1) No insurer may, for reinsurance ceded, reduce any liability or establish any asset in any financial statement filed with the office of the commissioner of insurance if, by the terms of the reinsurance agreement, in substance or effect, any o…

Ins 55.03 Written agreements. An insurer may not reduce any liability or establish any asset in any financial statement filed with the office of the commissioner of insurance, based on a reinsurance agreement or amendment to any agreement unless: (1) The agreement, amendment or a…

Ins 55.04 Effect of failure to comply. No insurer may reduce any liability or establish or maintain an asset for the purpose of determining whether the insurer is in financially hazardous condition, establishing or representing the financial condition of the insurer, or for the p…

Ins 55.05 Applicability. (1) This chapter applies to reinsurance agreements entered into prior to, on or after its effective date. (2) An insurer shall reduce to zero by December 31, 1994, the chapter was last published. 3 COMMISSIONER OF INSURANCE any reserve credits or assets e…

Ins 57.01 Definitions. In addition to the definitions in s. 648.01, Stats., in this chapter: (1) XAffiliateY of, or person XaffiliatedY with, a specific person means a person that directly or indirectly through one or more intermediaries, controls or is controlled by, or is under…

Ins 57.04 Financial requirements. All of the following are the minimum financial requirements for compliance with this section unless a different amount is ordered by the commissioner, after consultation with the department: (1) WORKING CAPITAL. Unless otherwise ordered by the co…

Ins 57.05 Business plan. All applications for permits of a care management organization shall include a proposed business plan. In addition to the items listed in s. 648.05 (2), Stats., the following information shall be contained in the business plan: (1) ORGANIZATIONAL INFORMAT…

Ins 57.06 Changes in the business plan. A care management organization shall file a written report of any proposed substantial change in its business plan. The care management organization shall file the report at least 30 days prior to the effective date of the change. The offic…

Ins 57.07 Copies of provider agreements. (1) Notwithstanding any claim of trade secret or proprietary information, all care management organizations shall, upon request, from the commissioner, make available to the commissioner all executed copies of any provider agreements betwe…

Ins 57.10 Acquisition of control of or merger with a care management organization. (1) FILING REQUIREMENTS. (a) No person other than the care management organization may enter into an agreement to merge with or otherwise to acquire or attempt to acquire control of a care manageme…

Ins 57.12 Standards for transactions within a holding company system. (1) TRANSACTIONS WITHIN A HOLDING COMPANY SYSTEM. A care management organization or affiliate of a care management organization may not enter directly or indirectly into a transaction between the care managemen…

Ins 57.13 Privileged information. The information required to be filed with the commissioner under s. Ins 57.10 is required under s. 601.42, Stats., and the commissioner may keep it confidential as provided under s. 601.465, Stats. History: EmR0927: emerg. cr. eff. 10-10-09; CR 0…

Ins 57.20 Forms and Instructions. (1) GENERAL. Forms A and B contained in Appendix 1 to this chapter are intended to be guides in the preparation of the statements required by this chapter. They are not intended to be blank forms which are to be filled in. The statements filed sh…

Ins 57.22 Forms — incorporation by reference, summaries and omissions. (1) INCORPORATION BY REFERENCE. Information required by any item of forms A, B or C contained at Appendix 1, may be incorporated by reference in answer or partial answer to any other item. Information containe…

Ins 57.23 Transactions subject to prior notice — notice filing. A person required to give notice of a proposed transaction under this chapter shall furnish the required information in substantially similar in format and in response to questions presented on form B in Appendix 1. …

Ins 57.24 Dividends and other distributions. Requests for approval of dividends or any other distributions to shareholders or corporate members shall include the following: (1) The amount of the proposed dividend or distribution; (2) The date established for payment of the divide…

Ins 57.25 Consent to jurisdiction. Any person required to file consent to jurisdiction under s. 648.45 (3), Stats., shall do so in a format substantially similar to the format and questions contained in form C of Appendix 1 to this chapter. History: EmR0927: emerg. cr. eff. 10-10…

Ins 57.26 General requirements related to filing and extensions for filing of annual audited financial reports. (1) A care management organization shall: (a) Annually obtain or cause an audit of the care management organization by an independent certified public accountant; and (…

Ins 57.30 Contents of annual audited financial report. The annual audited financial report required under s. Ins 57.26 shall comply with all of the following: (1) Report the financial position of the care management organization as of the end of the most recent calendar year and …

Ins 57.31 Designation of independent certified public accountant. (1) A care management organization shall, within 60 days after the care management organization becomes subject to this subchapter: (a) Provide the commissioner in writing the name and address of the independent ce…

Ins 57.32 Qualifications of independent certified public accountants. (1) The commissioner may rule that an accountant or accounting firm is not qualified for purposes of expressing an opinion on the financial statements in the annual audited financial report required under this …

Ins 57.33 Scope of audit and report of independent certified public accountant. Financial statements furnished under s. Ins 57.30 shall be audited by the independent certified public accountant. The independent certified public accountant shall conduct the audit of the care manag…